Alphatec (NASDAQ:ATEC) Director Purchases $408,600.00 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director David Demski purchased 60,000 shares of the stock in a transaction dated Friday, October 30th. The stock was acquired at an average cost of $6.81 per share, with a total value of $408,600.00. Following the transaction, the director directly owned 491,635 shares in the company, valued at approximately $3,348,034.35. This trade represents a 13.90% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alphatec Stock Performance

NASDAQ:ATEC traded up $0.47 during mid-day trading on Monday, hitting $7.51. 8,837,689 shares of the company’s stock traded hands, compared to its average volume of 3,055,418. The company has a fifty day moving average of $10.14 and a 200 day moving average of $10.62. Alphatec Holdings, Inc. has a twelve month low of $6.81 and a twelve month high of $23.29. The company has a market capitalization of $1.17 billion, a P/E ratio of -13.72 and a beta of 0.88.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Thursday, October 29th. The medical technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $221.17 million during the quarter, compared to analysts’ expectations of $225.16 million. Alphatec had a negative net margin of 10.35% and a negative return on equity of 6,752.24%. Alphatec’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, research analysts expect that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on ATEC shares. TD Cowen dropped their price target on shares of Alphatec from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Alphatec in a research note on Friday. Stephens assumed coverage on shares of Alphatec in a report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price target for the company. BMO Capital Markets lowered Alphatec from an “outperform” rating to a “market perform” rating and set a $8.00 target price on the stock. in a research note on Friday. Finally, Needham & Company LLC lowered their target price on shares of Alphatec from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.13.

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC bought a new stake in Alphatec during the third quarter worth approximately $112,000. State of Wyoming boosted its stake in shares of Alphatec by 87.7% during the 3rd quarter. State of Wyoming now owns 30,666 shares of the medical technology company’s stock valued at $316,000 after buying an additional 14,328 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Alphatec by 841.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 3,669 shares in the last quarter. Kopp Family Office LLC grew its stake in Alphatec by 0.4% in the 3rd quarter. Kopp Family Office LLC now owns 330,266 shares of the medical technology company’s stock valued at $3,408,000 after buying an additional 1,303 shares during the last quarter. Finally, AA Financial Advisors LLC lifted its position in shares of Alphatec by 140.5% during the 3rd quarter. AA Financial Advisors LLC now owns 48,094 shares of the medical technology company’s stock worth $496,000 after purchasing an additional 28,094 shares during the last quarter. 66.35% of the stock is owned by institutional investors.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.